Former BitMEX CEO Arthur Hayes has reaffirmed his prediction that Bitcoin will reach a price of $1 million, citing China’s recent cut to the reserve requirement ratio (RRR) as a factor that will boost the cryptocurrency’s value.
This comes after his earlier prediction that Bitcoin would reach $1 million by 2030, attributed to the “HODL culture” where users refuse to sell their holdings in anticipation of significant price appreciation.
Hayes believes that the recent cut in the RRR will help maintain liquidity in the banking system and sustain the rapid pace of lending seen in January and February. With his latest prediction, Hayes doubled down on his earlier statement that another crypto bull market is already here.
